Question

In: Economics

Identify and briefly discuss the “pros and cons” of teams and group decisions-making.

Identify and briefly discuss the “pros and cons” of teams and group decisions-making.

Solutions

Expert Solution

Pros of team and group decision making :

Group decision making takes advantage of diverse strengths of the memders. BY tapping the unique qualities of group members , group can generate greater number of alternatives and of higher quality. And this leads to superior solution than under individual decision making. Group decision making also leads to greater colllective understanding of the course of action chosen and it is also possible that many members affected by the decision implementation, therefore this actually indiactes the input into the decision. And this may also promote a sense of ownership of the decision.

Cons of team and group decision making:

Groups are generally slower to arrive at decisions than individuals and because of this it is very difficiult to utilitze them in situaions where decisions must be made very quickly. Group decision making also leads to deterioration of mental efficiency, reality testing and moral judgement which results from group pressures.

Group polarisation is also one disadvantage of group decision making . It is the tendency of the group to converge on more extreme solutions.


Related Solutions

Discuss the pros and cons of creating shareholder value. Discuss the pros and cons of Market...
Discuss the pros and cons of creating shareholder value. Discuss the pros and cons of Market Capitalization, Discuss the pros and cons of market indexes market indexes such as the(Research each term via the Internet and determine which stock exchange they follow) S&P 500, The DJIA, DAX, CAC-40, NASD 1000, and the FTSE-100.  Finally, research and discuss the major differences between the New York Stock Exchange (NYSE) and NASDAQ.
Briefly discuss the pros and the cons of the three (3) approaches used by analysts to...
Briefly discuss the pros and the cons of the three (3) approaches used by analysts to value a company’s equity, namely, the free-cash-flow-based approaches, earnings-based approaches, and market-based approaches. Please provide numerical examples.
Discuss pros and cons of current GAAP for balance sheet preparation. Discuss pros and cons of...
Discuss pros and cons of current GAAP for balance sheet preparation. Discuss pros and cons of current GAAP for income statement preparation.
Discuss the pros and cons of unions
Discuss the pros and cons of unions
Identify 3 pros and 3 cons of localization and standardization and explain why they are pros/cons....
Identify 3 pros and 3 cons of localization and standardization and explain why they are pros/cons. Give 2 examples of products that are better off with Standardization and 2 that are better off with Localization and explain why?
Discuss the pros and cons (3 pros and 3 cons) of raising the Minimum Wage to...
Discuss the pros and cons (3 pros and 3 cons) of raising the Minimum Wage to double digits. You must conclude with which side you are on and defend your choice.
Discuss the pros/cons of the three types of teams : functional, cross-functional, self-directed (self-managed).
Discuss the pros/cons of the three types of teams : functional, cross-functional, self-directed (self-managed).
Patent protection creates monopolies in software markets. Briefly discuss the pros and cons of the government’s...
Patent protection creates monopolies in software markets. Briefly discuss the pros and cons of the government’s patent policy in this context.
The Role of World Trade Organization (WTO) Please, discuss briefly the key pros and cons for...
The Role of World Trade Organization (WTO) Please, discuss briefly the key pros and cons for a small country considering to join the WTO! As we know – after joining the EU (a customs union) Latvia is represented in the WTO by EU representatives (rather than Latvian ones). What is your evaluation of this situation?
briefly discuss the pros and cons associated with probability and nonprobability sampling methods. Provide explanation for...
briefly discuss the pros and cons associated with probability and nonprobability sampling methods. Provide explanation for each.  
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT